Division 1 — Creditors’ meetings
Meetings summoned by trustee of bankrupt’s estate
16.—(1)  When a meeting of a bankrupt’s creditors is summoned by the trustee of the bankrupt’s estate under section 330(1) of the Act or when requested to do so under section 330(2) of the Act, the trustee must fix the date and time of the meeting and send a notice to each creditor at —
(a)the address given in the creditor’s proof of debt filed with the trustee; or
(b)if the creditor has not filed a proof of debt with the trustee — the address given in the bankrupt’s statement of affairs or the creditor’s last known address as notified to the trustee.
(2)  The notice of meeting mentioned in paragraph (1) must be sent to the creditors at least 3 days before the day appointed for the meeting.
(3)  The notice of meeting mentioned in paragraph (1) must be in Form BR‑1.
(4)  Proxy forms must be sent together with every notice of meeting sent under paragraph (1).
Meetings summoned by Court
17.—(1)  Where the Court orders a meeting of creditors of a bankrupt to be summoned under section 330(2) of the Act, the person who applied for the order of the Court must send a sealed copy of the order in Form BR‑2 to the trustee of the bankrupt’s estate.
(2)  The trustee of the bankrupt’s estate must summon the meeting as the Court orders and, not less than 3 days before the meeting, send a copy of the order of the Court to each creditor at —
(a)the address given in the creditor’s proof of debt filed with the trustee; or
(b)if the creditor has not filed a proof of debt with the trustee — the address given by the bankrupt in the bankrupt’s statement of affairs or the creditor’s last known address as notified to the trustee.
Creditors’ committees in bankruptcy of partnership
18.  In the bankruptcy of a partnership, each set of separate creditors may appoint its own creditors’ committee, and a committee appointed by the joint creditors is deemed to have been appointed also by any set of separate creditors who do not appoint a separate committee.
Non-receipt of notice by creditor
19.  Unless the Court otherwise orders, the proceedings at a meeting of creditors are valid even if some creditors have not received the notice summoning the meeting.
Chairperson of meeting
20.  Unless the Court otherwise orders, the chairperson of a meeting of a bankrupt’s creditors is —
(a)where the Official Assignee is appointed as the trustee of the bankrupt’s estate — the Official Assignee or a person nominated by the Official Assignee; or
(b)where a trustee in bankruptcy is appointed as the trustee of the bankrupt’s estate — the trustee in bankruptcy.
Costs of creditors’ meeting
21.—(1)  Unless the Court otherwise orders —
(a)the costs of summoning and holding a meeting of a bankrupt’s creditors under section 330(1) of the Act or ordered by the Court under section 330(2) of the Act are to be paid out of the estate of the bankrupt as an expense of the bankruptcy; and
(b)the costs of summoning and holding a meeting of a bankrupt’s creditors by the request of the bankrupt’s creditors under section 330(2) of the Act are to be paid by the creditor or creditors who made the request.
(2)  The creditor or creditors mentioned in paragraph (1)(b) must —
(a)at the time of summoning the meeting, make full payment of the costs; or
(b)before the meeting is summoned, deposit with the trustee of the bankrupt’s estate the sum required by the trustee as security for the payment of the costs.
(3)  The trustee of the bankrupt’s estate is not required to act without paragraph (2) having been complied with.
Orders or directions for meetings
22.  The Court may, either on its own motion or on the application of a bankrupt, a creditor or the chairperson of a meeting of the bankrupt’s creditors summoned under section 330 of the Act, make or give any of the following orders or directions in relation to the meeting:
(a)that the proceedings at the meeting are invalid due to any creditor not having received the notice summoning the meeting;
(b)that the chairperson of any subsequent meeting is to be a person that the meeting by ordinary resolution appoints to be the chairperson of the subsequent meeting;
(c)that the costs of summoning and holding the meeting are to be payable by one or more persons specified by the Court.
Quorum
23.—(1)  Unless the quorum is formed at a meeting of creditors, the meeting is competent to act only for the following purposes:
(a)the appointment of a chairperson;
(b)the admission by the chairperson of creditors’ proofs of debt, for the purpose of their entitlement to vote;
(c)the adjournment of the meeting.
(2)  The quorum for a meeting of creditors is the following number of creditors present in person or by proxy, being persons entitled to vote at the meeting:
(a)if the number of creditors of the bankrupt in question exceeds 3 creditors — 3 creditors;
(b)if the number of creditors of the bankrupt in question does not exceed 3 creditors — all the creditors.
Adjournment
24.—(1)  The chairperson of a meeting of creditors may in his or her discretion adjourn the meeting to a time and place that the chairperson thinks is appropriate —
(a)if, within half an hour from the time appointed for the meeting, the quorum mentioned in regulation 23(2) is not formed; or
(b)for any other reason.
(2)  The chairperson of a meeting of creditors must adjourn the meeting if the meeting so resolves, to a time and place that the chairperson thinks is appropriate.
Proxies
25.—(1)  A creditor may vote either in person or by proxy at a meeting of creditors.
(2)  A person below 18 years of age must not be appointed as a proxy at a creditors’ meeting.
(3)  No form of proxy may be used for the purposes of any meeting of creditors except that which is sent out with the notice summoning the meeting.
(4)  A proxy given by a creditor under this regulation is sufficiently executed if it is signed by a person in the creditor’s employment having a general authority to sign for the creditor, or by the creditor’s authorised agent if the creditor is resident abroad.
(5)  The creditor’s authority mentioned in paragraph (4) —
(a)must be in writing; and
(b)if required by the chairperson of the meeting in question, must be produced to the chairperson.
(6)  A creditor may give a general proxy in Form BR‑3 to the creditor’s manager or clerk or any other person in the creditor’s regular employment, in which case the instrument of proxy must state the relation in which the person to act under the general proxy stands to the creditor.
(7)  A creditor may give a special proxy in Form BR‑4 to any person to vote at any specified meeting or adjournment of the specified meeting for or against any specific resolution.
(8)  A creditor may appoint the trustee of the bankrupt’s estate in question to act as the creditor’s general or special proxy.
Where creditor is blind or incapable of writing
26.  The proxy of a creditor who is blind or incapable of writing may be accepted for a meeting of creditors if —
(a)the creditor has placed the creditor’s mark upon or signed it in the presence of a witness;
(b)the witness has added the signature, description and residence of the witness to the creditor’s mark or signature;
(c)all insertions in the proxy are in the handwriting of the witness; and
(d)the witness has certified at the foot of the proxy that all the insertions were made by the witness at the creditor’s request and in the presence of the creditor before the creditor attached the creditor’s mark or signature.
Use and retention of proxies
27.—(1)  A proxy of a creditor may not be used at a meeting of creditors unless the proxy is deposited with the chairperson of the meeting not later than 4 p.m. on the day before the meeting or adjourned meeting at which it is to be used.
(2)  A proxy given for a particular meeting of creditors may be used at any adjournment of that meeting.
(3)  Proxies used for voting at any meeting of creditors under this Division must be retained by the chairperson of the meeting.
Proxy-holder with financial interest
28.—(1)  No person acting under either a general or a special proxy may vote in favour of any resolution at any meeting of creditors under this Division if the resolution would directly or indirectly place the person or the person’s partner or employer in a position to receive any remuneration out of the estate of the bankrupt otherwise than as a creditor rateably with the other creditors of the bankrupt.
(2)  For the purposes of paragraph (1), a person is a partner of another person if a partnership within the meaning of sections 1 and 2 of the Partnership Act (Cap. 391) subsists between them.
Entitlement to vote
29.—(1)  A person is not entitled to vote as a creditor at any meeting of creditors unless —
(a)the person has duly proved the person’s debt under regulation 30; and
(b)the person’s proof of debt has been duly filed under regulation 46 before the time appointed for the meeting.
(2)  A creditor may not vote at a meeting of creditors in respect of —
(a)any debt for an unliquidated amount; or
(b)any debt the value of which is not ascertained,
unless the chairperson of the meeting agrees to put upon the debt an estimated minimum value for the purpose of entitlement to vote and admits the proof of the debt for this purpose.
(3)  For the purpose of voting —
(a)a secured creditor must, unless the secured creditor surrenders the secured creditor’s security, state in the secured creditor’s proof of the debt the particulars of the security, the date when the security was given and the value at which the secured creditor assesses it; and
(b)the secured creditor is entitled to vote only in respect of the balance (if any) due to the secured creditor after deducting the value of the security.
(4)  If a secured creditor votes in respect of the secured creditor’s whole debt, the secured creditor is deemed to have surrendered the secured creditor’s security unless the Court, on application, is satisfied that the omission to value the security has arisen from inadvertence.
(5)  A creditor may not vote in respect of a debt on, or secured by, a current bill of exchange or promissory note, unless the creditor is willing to —
(a)treat the liability of every person (being a person against whom a bankruptcy order has not been made or which has not gone into liquidation) who is liable on the bill or note antecedently to the bankrupt in question as a security in the creditor’s hands; and
(b)estimate the value of the security and deduct it from the creditor’s proof for the purpose of entitlement to vote in a meeting of creditors (but not for dividend).
(6)  If a bankruptcy order is made against one partner of a firm, any creditor to whom that partner is indebted jointly with the other partners in the firm or any of them may prove the creditor’s debt for the purpose of voting at any meeting of creditors, and is entitled to vote at the meeting.
Admission and rejection of proofs of debt
30.—(1)  The chairperson of a meeting of creditors has the power to admit or reject a proof of debt (or any part of the proof) for the purpose of voting at the meeting, but the chairperson’s decision is subject to appeal to the Court.
(2)  An appeal against the chairperson’s decision under paragraph (1) must be made within 14 days after the admission or rejection of the proof of debt (or any part of the proof).
(3)  If the chairperson is in doubt whether a creditor’s proof of debt (or any part of the proof) should be admitted or rejected, the chairperson must mark the proof as objected to and allow the creditor to vote, subject to the vote (or any part of the vote) being declared invalid if the objection to the proof is sustained.
(4)  If the chairperson’s decision is reversed or varied on an appeal to the Court under this regulation, or a creditor’s vote (or any part of the vote) is declared invalid, the Court may order that another meeting be summoned or make any other order that the Court thinks just.
(5)  The chairperson is not personally liable for costs incurred by any person in respect of an appeal to the Court under this regulation.
Record of proceedings
31.—(1)  The chairperson at any creditors’ meeting must cause minutes of the proceedings at the meeting, signed by the chairperson, to be retained by the chairperson as part of the records of the bankruptcy.
(2)  The chairperson must also cause to be made up and kept a list of all the creditors who attended the meeting.
(3)  The minutes of the meeting must include a record, and the particulars, of every resolution passed at the meeting.